https://www.taxtmi.com/caselaws?id=296463 The ITAT allowed the assessee's appeal, ruling that the provision for bad and doubtful debts was correctly claimed as a deduction. The addition made by the authorities was deleted based on the Supreme Court and Gujarat High Court judgments, which clarified that the provision must be debited to the Profit and Loss account and reduced from loans or debtors on the balance sheet to qualify as an actual write-off. en-us Fri, 17 May 2019 00:00:00 +0530 Wed, 28 Jul 2021 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296463 The ITAT allowed the assessee's appeal, ruling that the provision for bad and doubtful debts was correctly claimed as a deduction. The addition made by the authorities was deleted based on the Supreme Court and Gujarat High Court judgments, which clarified that the provision must be debited to the Profit and Loss account and reduced from loans or debtors on the balance sheet to qualify as an actual write-off. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296463